Registered number
07734232
Westfield 2011 Limited
Unaudited Filleted Accounts
30 September 2023
Westfield 2011 Limited
Registered number: 07734232
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 300,870 363,104
Current assets
Debtors 4 604,578 603,250
Cash at bank and in hand 39,529 131,604
644,107 734,854
Creditors: amounts falling due within one year 5 (46,215) (79,592)
Net current assets 597,892 655,262
Total assets less current liabilities 898,762 1,018,366
Creditors: amounts falling due after more than one year 6 (774,062) (881,929)
Net assets 124,700 136,437
Capital and reserves
Called up share capital 100 100
Profit and loss account 124,600 136,337
Shareholders' funds 124,700 136,437
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Field
Director
Approved by the board on 22 January 2024
Westfield 2011 Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 360,870 196,378 557,248
At 30 September 2023 360,870 196,378 557,248
Depreciation
At 1 October 2022 - 194,144 194,144
Charge for the year 60,000 2,234 62,234
At 30 September 2023 60,000 196,378 256,378
Net book value
At 30 September 2023 300,870 - 300,870
At 30 September 2022 360,870 2,234 363,104
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 604,578 603,250
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 30,059 63,277
Taxation and social security costs 15,967 14,398
Accurals & deferred Income 189 1,917
46,215 79,592
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 478,870 591,987
Amounts owed to group undertakings and undertakings in which the company has a participating interest 60,000 60,000
Other creditors 235,192 229,942
774,062 881,929
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 508,929 655,364
The bank loans are secured by a debenture and a legal charge over the company's freehold property.
8 Controlling party
The company is controlled by its directors.
9 Other information
Westfield 2011 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Claydon Hay Barn
Boddington Road
Claydon
Oxfordshire
OX17 1HD
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